Ethereum’s Alternative Stellar (XLM) is On the Rise

Stellar (XLM) is gaining recognition as on the most important platform coins, and the price of an asset accordingly grows. XLM is currently trading at $0.24, which is a result of 14% growth the coin demonstrated yesterday.

Although Stellar is not exactly a direct Ethereum’s competitor, the crypto community sees the platform’s potential as an ecosystem for Dapps and ICOs. The advantage of Stellar is much faster transaction speed, which still is an issue among many blockchain projects.

In contrast with other platforms, Stellar doesn’t use on-chain transactions. It utilizes a system of anchors, which play the role similar to banks, issuing a centralized balance. Needless to say, such a solution provoked severe criticism from the supporters of the decentralization principle, who insist on a completely “trustless” system.

Despite the opposition, XLM is listed on Binance and Poloniex and seems to attract an increasing number of US investors, while also being popular on Asian markets. The currently low price of the asset might be an advantage, as the altcoins enter a period growth.